What is Marketing? – Secret Definition (Part 1/2) (Series 3)

What is marketing? Perhaps, every marketer has learned that. However, did anyone tried its complete analysis? Did anyone read in between the lines? What’s the secret in this definition that most people overlook?

Today, you’ll learn what have been missed by many experienced marketers while learning the definition of marketing.  Hint: There’s a hidden word. Guess the word before watching the video.

This  definition of marketing would be

the most memorable. You will never forget!

Cartoon: What is Marketing? – Secret Definition (Part 1/2)

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Any suggestions, comments or questions? Let me know in the comments below! I would love to hear from you.

I read every single comment!

Script:

Kimberly: So, in previous meetings, I’ve learned what marketing is not, and what is marketing sense. Now, I’m curious to learn the definition. Tell me! What is marketing? Please, please, for God sake!

Eric: Okay, First of all, let’s start from what marketing professor Philip Kotler says.

 

Open Me (to read complete script)

Kimberly: The one who’s the Professor of marketing in Northwestern University and author of many marketing books including, marketing management?

Eric: Yes! According to Philip Kotler, “Marketing is the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.”

 

For a layman, this definition is difficult to understand. There is a hidden word in this definition that most people overlook while learning it. C’mon! Guess the word!

Kimberly: Oh! Very hard guess! Customer.

Eric: Nope.

Kimberly: Vendor! Retailer?

Eric: No.

Kimberly: Then, who the hell? You?

Eric: Haha, No!

Kimberly: Then, what’s the hidden word? Who is it? If it’s not even customer?

Eric: Ha ha! He he!

Kimberly: Stop it!

Eric: Ok, It’s competitor!

Kimberly: Competitor?

Eric: Yes! The hidden word is competitor. So, the definition could be rephrased like this

“Marketing is the science and art of exploring, creating, and delivering value, different from competitors, to satisfy the needs of a target market at a profit.”

Kimberly: How did you find that?

 

Eric: There are actually two parts of definition of marketing:

  1. Customer Analysis.
  2. Competitor Analysis.

Kimberly: All right. I never thought of it like this before. The definition is itself so deep!

Eric: Actually, as a whole, Marketing is a very deep subject. So, first of all, let’s discuss customer analysis. You can do customer analysis by asking following type of questions, like:

1. Customer Analysis:

  • Who are your customers?
  • What, where and what do they buy?
  • How do they choose and use?
  • Why they prefer a brand over another?

Kimberly: All right! What if we ONLY do customers analysis? I think, our product will sell, if we believe in customer satisfaction by offering them good quality of product.

Eric: Most businessmen believe that one day the truth will out and the good quality product will sell. Alas! That day never comes. There is only one problem to this conventional thinking.

Kimberly: And what’s that?

Eric: They believe their product quality is better. Their competitors also believe that, but their customers don’t.

 

Eric: Ok, let me ask you a simple question to know the importance of competitor’s analysis.

Kimberly: Go ahead!

Eric: Tell me, if one company is selling its brand for twenty years by satisfying its customers. All of a sudden, you jump in and start selling the same product to its customers.

 

Eric: What do you think? How that competitor will react?

Kimberly: I’ve no idea!

 

Eric: Then, go and try it.

(Kimberly went to a doughnut outlet to try if she can attract customer to her store and to learn competitor’s reaction)

Kimberly: Hello!

Jovi: Yes?

Kimberly: There’s a new store in town selling even tastier doughnut with best quality. They have a reasonable price too. Would like to try it?

Jovi: Yeah, of course. C’mon let’s go!

(The Competitor and store owner chimes in)

Robert: What the hell is going on here? Nobody can take my customers away from me!

Jovi: Why not? Their doughnuts are tastier, best quality with a reasonable price! Yummy!

Robert: Hold on! Nobody can beat me in my town! I give you tastier, best quality doughnut and also a reasonable price.

Jovi (is thinking): Hmmm…

Robert: O c’mon! What are you thinking? What else do you want? How can you leave your good ol’ friend?

Jovi: You’re right. I don’t want to get CONFUSED, It’s better to stay with TRUSTED store, like yours. I don’t have TIME to try NEW things either!

Kimberly: Oh my God! Run!

Kimberly: Help me!

Eric: You look awful! What happened? Did you get your customer?

Kimberly: I was successful to satisfy my customer! But that bloody competitor! He was so strong.

Eric: So, what have you learned?

 

What next?

  1. Kimberly will tell us what lesson she has learned.
  2. Eric will be explaining the second part of definition of marketing, “Competitor Analysis”.

Resources:

Reference books: At this stage, I recommend you to read following books.

Yes, you can always ask questions from these books too. The list will keep on increasing with more upcoming posts.

(The more you read, the more you’re capable of generating ideas)

Subscribe now to www.KamilAli.com to get all episodes.

 

What is Marketing-Robert, Kimberly, Jovi

 

Did I miss something? Got ideas what more I could explain? Any suggestions, comments or questions? Let me know in the comments below! I would love to hear from you.

I read every single comment!

Comments

comments

  • Kazim12jawa

    Good Work ma marketing Guru….

    • http://www.kamilali.com/ Kamil Ali

      Thank you so much Kazim to take your time out to watch this post:)
      Click here to subscribe so that you can get all episodes http://app.getresponse.com/error404.html

      • http://twitter.com/Manny_mz Muneeb Umer

        I CAN NEVER FORGET this marketing definition  HHAHAHAHAHAHA AMAAAAZIN:)

  • Pardasi

    First, for whom did u create this video? Who is your audience? Local or foreign? Second, do u want audiance to listen or read? Third, it would be more effective, if you speak in the background as an expert intestead of cartoon character with different graphics in the front. Just my rupee worth of ideas!

    • http://www.kamilali.com/ Kamil Ali

      Thanks for your feedback Imran. Here are the answers :
      1. For whom did u create this video? Who is your audience? Local or foreign?It has been created for specially for students who are interested in learning marketing. Yet, other audience will be automatically attracted towards it if they are also interested or would like to share video with others. The objective was mentioned in the the announcement article. Click here to read: http://kamilali.com/2011/05/online-marketing-mastermind-announcing-new-series/
       When we go online its far better to go for both,  Local or foreign, if possible. So, the cartoons are for both.

      2. Do u want audiance to listen or read? 
      Mainly I want them to watch and listen.The script is written as an add on so that people who didn’t get the language can also read. Furthermore, its also due to SEO. Video is rank good in Google and YouTube. Plus text is good way to come on Google search when user types in.

      3. It would be more effective, if you speak in the background as an expert intestead of cartoon character with different graphics in the front. 
      Yes, I know its always effective to speak yourself and make yourself a celeb or expert. I’ll also do that. But ,that would be a separate project.  It’s easier to get through the marketing concept through animation. If they don’t get it, they can always ask questions in this comment box.

      Thanks so much for sharing your valuable insights!

  • http://twitter.com/peterhutyr Peter

    Nice one, thanks Kamil.

    • http://www.kamilali.com/ Kamil Ali

      Thanks Peter for your time out to come here and love the cartoon:) Next part coming soon:)

  • Sameera

    Kamil Bhai i would really want to appreciate your work because through cartoons one is more interested to learn something new rather than reading long notes. I really enjoyed, and enjoying reading your blog. Now marketing concepts are more easier to grasp. Thankyou.

    • http://www.kamilali.com/ Kamil Ali

      That’s what I always wanted, when I started learning marketing in my early days! I’m happy that you and many others are getting benefit out of it. Thanks for the kind words Sameera:)

  • Saddam Khan6699

    kamil bhai rocks

    • http://www.kamilali.com/ Kamil Ali

      I think every one who can recognize good idea, rocks! So you rock too:) Thanks Saddam:)

  • Heak Heng

    I really love your work
    I not yet graduate and dont have any experience in marketing plan or doing research.
    After watching your video make me clearly understand the marketing more.

    Really thanks you

    • http://www.kamilali.com/ Kamil Ali

      Thanks Heak,
      That’s what my aim is, The idea is conveyed to you! All set!